Commitments to raise $5, 000, 000 in investment capital for the newly formed Canada-Israel Development Corporation were accepted here last night by regional representatives to the first meeting of the new company. The commitments were accepted after the meeting was addressed by Pinhas Sapir, the Israel Minister of Commerce and Industry, who accompanied Prime Minister David Ben-Gurion on his official visit to Canada.
Samuel Bronfman, chairman of the company, announced that he had purchased $500, 000 in shares in the company. It was announced that $2, 000, 000 of the pledged new capital would be raised in Montreal and the maritime provinces; another $2, 000, 000 in Ontario, and $1, 000, 000 in Western Canada.
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